Who owns the title of a crane during a 'Lease-to-Purchase' (LPO) agreement?
The lessor (leasing company or dealer) retains legal title to the crane throughout the lease term until final payment is made and ownership transfers.
During a Lease-to-Purchase agreement, the lessor maintains legal ownership and holds the title to the crane equipment. This arrangement protects the lessor's financial interest while allowing the lessee to operate the equipment and eventually acquire ownership. The title remains with the leasing company regardless of how much of the lease has been paid.
Remember: "Lessor Keeps Title Till Last Payment" - LKTLP (Lessor owns until lease-to-purchase is complete)
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